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TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.
  • Boeing lowers 2044 global air fleet outlook amid supply chain woes

    New York, United States -- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most...

    The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most built over the next 20 years, according to a Boeing forecast released Saturday.

    The global fleet will nearly double to 49,600, a bit below Boeing's prior annual outlook, the company said ahead of the giant Paris Air Show beginning Monday.

  • IBM claims ‘real world’ edge in quantum computing race

    San Francisco, United States -- Technology veteran IBM on Tuesday laid out a plan to have a "practical" quantum computer...

    Current quantum computers are still experimental and face significant challenges, including high error rates.

    Companies like IBM, Google, and others are working to build more stable and scalable quantum systems.

  • World Bank cuts growth forecast on trade tumult, warns of ‘deep’ harm

    The bank lowered its projection for global GDP growth to 2.3 percent in its latest economic prospects report, down from...

    "That's the weakest performance in 17 years, outside of outright global recessions," said World Bank Group chief economist Indermit Gill.

    By 2027, the World Bank expects global GDP growth to average 2.5 percent in the 2020s, which would be the slowest rate in any decade since the 1960s.

  • From Iran Talks to Dubai Metro: Key Middle East Developments You Need to Know on June 10, 2025

    Key developments across the Middle East today highlight regional diplomatic, economic and humanitarian trends

    Sheikh Mohammed launches 30km expansion featuring world's highest metro station (74m) to serve growing population

    After 12-year exclusion, Damascus prepares to reconnect to global banking network to formalize trade

  • Saudi Arabia’s real GDP grows by 3.4 percent in Q1 mainly on non-oil activities

    Riyadh, Saudi Arabia -- Saudi Arabia’s first quarter real Gross Domestic Product (GDP) grew by 3.4 percent year-on-year, according to...

    Sectors such as wholesale and retail trade, restaurants, and hotels led the way, recording an impressive 8.4% annual growth, reflecting a rebound in consumer demand and tourism.r

    On a quarterly basis, seasonally adjusted real GDP rose by 1.1 percent compared to Q4 2024, signaling continued economic momentum into the year.

  • US, China seek to extend trade truce with London talks

    After a round of talks in Geneva last month, the United States and China will sit down at the negotiating...

    US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will lead the US delegation

    Chinese Vice Premier He Lifeng - who led Beijing's negotiating team in Geneva - will also lead the team in London, the foreign ministry announced at the weekend

  • Key MENA trends: M&A surge to five-year high, Saudi port activity rises in May

    Qatar's foreign reserves rise 3.6 percent year-on-year despite a dip in bonds and treasury holdings, Iraq releases Australian and Egyptian...

    Egypt and Turkey continue their coordination on ceasefire efforts and humanitarian aid, as diplomatic momentum struggles against on-ground escalation.

    The ICRC has warned that the healthcare system is on the brink of collapse, with medical infrastructure under increasing strain from ongoing hostilities.

  • Trump says Musk has ‘lost his mind’ as feud fallout mounts

    Washington, United States - US President Donald Trump said Friday that Elon Musk had "lost his mind" but insisted he...

    The blistering public break-up between the world's richest person and the world's most powerful is fraught with political and economic risks all round

    Trump had scrapped the idea of a call with Musk and was even thinking of ditching the red Tesla he bought at the height of their bromance, White House officials told AFP

  • MENA Outlook: Diversification, AI, and economic integration take centre stage

    As the region pivots toward a post-oil future, recent developments across the Middle East and North Africa suggest an accelerating...

    Saudi government announced a $5.6 billion fertilizer JV between SABIC and Aramco, while also adopting new green building codes to reduce emissions

    From launching the world’s first AI-powered media council to streamlining family business, Abu Dhabi and Dubai are reinventing the regulatory ecosystem to attract global capital

  • IMF upgrades Saudi real GDP growth forecast to 6% in 2025, up from

    Riyadh, Saudi Arabia -- The International Monetary Fund (IMF) has revised upwards its forecast for Saudi Arabia's economic growth to...

    This adjustment from earlier estimates reflects the impact of extended oil production cuts and a slower-than-expected rebound in oil output.

    The IMF anticipates that inflation will remain contained, with an average annual rate holding steady at 2.1 percent in 2025 and easing slightly to 2 percent the following year.